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June 5, 2019
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We run a daycare from home and we replaced the a/c unit and ductwork, how do I expense this?

  • June 5, 2019
  • 4 replies
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Best answer by Phillip1

Through the home office expense portion of the return for your business. In the screen that shows your home information as a depreciable asset for the home office expense, you will add the expenses related to the AC unit and ductwork as an improvement asset to your home.

4 replies

June 5, 2019
where do I enter my home as an asset? I currently claim sq ft.  can I enter the a/c  unit under repair expenses?
Employee
June 5, 2019
You will need to be using the self employed online version. Follow these steps 1.) Log all the way into your return. 2.) Go to the Federal category in the left hand navigation bar of TurboTax. 3.) Click on the Income and Expenses option at the top of the screen. 4.) Go through the self employed screens until the program brings you to expenses, 5.)Go through the home office section again. 6.) Continue past the screen labeled "Enter expenses for your entire home", until you reach a screen labeled "Home office asset summary" or "Depreciation for your home". Enter the repairs here.
June 5, 2019
I signed into my turbotax.com and all I found was the area to update my address into. their was no federal category to select. will I have to pay again to do my taxes?
Phillip1Answer
Employee
June 5, 2019

Through the home office expense portion of the return for your business. In the screen that shows your home information as a depreciable asset for the home office expense, you will add the expenses related to the AC unit and ductwork as an improvement asset to your home.